The CPI is also referred to as
A)the GDP deflator.
B)the inflation-consumption index.
C)the cost-of-living index.
D)the producer price index.

Question

Quizplus · Accepted Answer

The CPI, or consumer price index, is also known as the cost-of-living index. It measures the average change in prices that consumers pay for goods and services over time, and is often used as a measure of inflation. The GDP deflator (A) is a measure of the overall level of prices in an economy, not just consumer prices. The inflation-consumption index (B) is not a commonly used term. The producer price index (D) measures the average change in prices received by producers, not the prices paid by consumers.

The CPI Is Also Referred to as